Reported Q: Q1 2024 Rev YoY: +5.2% EPS YoY: -41.3% Move: +0.23%
Regions Financial
RF-PE
$17.40 0.23%
Exchange NYSE Sector Financial Services Industry Banks Regional
Q1 2024
Published: May 7, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for RF-PE

Reported

Report Date

May 7, 2024

Quarter Q1 2024

Revenue

2.29B

YoY: +5.2%

EPS

0.37

YoY: -41.3%

Market Move

+0.23%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $2.29B up 5.2% year-over-year
  • EPS of $0.37 decreased by 41.3% from previous year
  • Gross margin of 69.7%
  • Net income of 368.00M
  • ""This morning, we reported first quarter earnings of $343 million, resulting in earnings per share of $0.37. However, adjusted items reconciled within our earnings supplement and press release, representing an approximate $0.07 negative impact on our reported results. For the first quarter, total revenue was $1.7 billion on a reported basis and $1.8 billion on an adjusted basis as both net interest income and fee revenue demonstrated resiliency in the face of lingering macroeconomic and political uncertainty."" - John Turner
RF-PE
Company RF-PE

Executive Summary

Regions Financial reported a mixed Q1 2024, with solid top-line resilience and meaningful margin pressure from a higher-cost deposit mix. Total revenue was $1.7B on a reported basis and $1.8B on an adjusted basis, supported by resilient net interest income (NII) and stronger fee income. Management underscored that NII declined about 4% sequentially and NIM fell about 5 bps, driven by deposits remixing and higher funding costs, even as asset yields benefited from higher rates. Adjusted noninterest income rose 6% QoQ, led by capital markets, real estate, debt capital markets, and M&A activity, with full-year 2024 guidance of $2.3–$2.4B. The quarter featured elevated operating costs related to seasonality and one-off items, but Regions maintains a target for full-year adjusted noninterest expenses near $4.1B, with Q1 representing the high watermark.

Key Performance Indicators

Revenue
Increasing
2.29B
QoQ: -0.35% | YoY: 5.15%
Gross Profit
Decreasing
1.60B
69.74% margin
QoQ: -3.57% | YoY: -12.17%
Operating Income
Decreasing
464.00M
QoQ: -1.49% | YoY: -41.19%
Net Income
Decreasing
368.00M
QoQ: -5.88% | YoY: -39.87%
EPS
Decreasing
0.37
QoQ: -5.13% | YoY: -41.27%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 2,315.00 0.51 +1.2% View
Q4 2024 2,387.00 0.56 +4.0% View
Q3 2024 2,330.00 0.49 -0.1% View
Q2 2024 2,307.00 0.52 -0.4% View
Q1 2024 2,287.00 0.37 +5.2% View